FINANCIAL_SERVICESPENDING

Illinois Housing Development Authority Finance Committee Meeting Minutes March 2026

Merchants Capital to Provide Prairie View Permanent Loan

Illinois Housing Development AuthorityMERCHANTS CAPITALMarch 20, 2026

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Description

Prairie View Apartments will ultimately be financed with a permanent FHA 221(d)(4) loan arranged by Merchants Capital. The fixed-rate, taxable, long-term facility will replace IHDA’s short-term conduit bonds after rehabilitation is completed.

Contract Details

Vendor

MERCHANTS CAPITAL

Agency

Illinois Housing Development Authority, IL

Contract Type

FINANCIAL_SERVICES

Document Date

March 20, 2026

Contract Term

Permanent FHA 221(d)(4) loan; fixed-rate, taxable, long-term (no specific dates provided)

Renewal Info

Permanent take-out loan structure; no renewal or extension terms described.

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Issuing Agency

Illinois Housing Development Authority

Local Housing Authority

Chicago, IL

View agency profile

Vendor